Tuesday, May 31, 2011

Market Summary -- 31st May 11

FTSE STI closed 3,159.93, up 19.33 points or +0.61% with a total volume of 1.11b and a total value of S$1.57b.  Total number of advance vs decline was 273 vs 192.  Of the 30 component index stocks, 20 closed positive, 7 closed negative and 3 remained unchanged.  The top 5 gainer component stocks were :-

1. Jardine C&C  +0.500
2. JSH 500US$  +0.360
3. CityDev  +0.240
4. UOB  +0.160
5. KepCorp  +0.160
5. JMH 400US$  +0.160

The top 5 loser component stocks were :-

1. CapMallsAsia  -0.030
2. ST Engg  -0.030
3. Wilmar  -0.030
4. SGX  -0.020
5. SPH  -0.020

US markets closed for holiday yesterday night.  Asian bourses without much lead was stagnant in the earlier part of the day but became more active in the afternoon session when SSE reversed to close +1.37%, Nikkei +1.99% and HSI +2.16%.  DJ future and European bourses also very positive with at least 1% gain as speculation that Greece issue could be resolved.  News out that EU and IMF are determined to resolve Greece's issue by end of June.  With some window dressing happening, STI managed to close +0.61% with 20 out of 30 component stocks registered positive closing.  With earning season over, market will be looking at global events for a direction next month, namely Europe's debt and the expiry of QE2.